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we do not want to go off the fiscal cliff. that's why we quickly responded to another proposal to the president. but the president refused to have a discussion. >> there's other reports that say republicans are looking for a fallback position, if he can't get the capps on deductions for more tax revenues and so forth. and it's going to be tax rates that the republicans might just vote present. some might vote present. some might vote aye and deal with the rates next year is. that just pure press speculation or is there anything to it? >> look, those are all press stories that are out there. we're trying to solve a problem. because if that came to fruition, that does nothing to solve the problem. and we just have an unbelievable amount of growth in government where we have to control the spending. if we want to truly save medicare and social security, we've got to do something about it. that's what republicans have been proposing all along. we want to solve a problem once and for all. and that's why we haven't waited -- it's in
we do not want to go off the fiscal cliff. that's why we quickly responded to another proposal to the president. but the president refused to have a discussion. >> there's other reports that say republicans are looking for a fallback position, if he can't get the capps on deductions for more tax revenues and so forth. and it's going to be tax rates that the republicans might just vote present. some might vote present. some might vote aye and deal with the rates next year is. that just...
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and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama proposals by saying you're not cutting spending, you're not coming to us on entitlements, but it's falling flat. no one's really listening and the white house has controlled the debate that it's all about the upper 2%. the first thing in texas you do is shrink the size of government, wouldn't you? >> well, we did that. we faced a substantial budget shortfall. we have a constitutional amendment that requires us to have a balanced budget, which frankly america needs that. >> i don't know what would happen. >> most states have that. >> the states that are -- i
and i'm talking about the fiscal cliff now. i wonder if you were at 25% of gdp, if the government had grown to this size where it is right now and you were trying to figure out how to deal with it and you were in charge, would it be all about -- would the first thing you come up with be raising taxes? would not -- wouldn't you address the spending -- wouldn't you address the spending side of -- >> right. >> -- and, you know, the republicans are trying to criticize the obama...
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it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest deduction. and, bob, you think -- for a lot of people that won't matter? >> you have the amt. so if you take excessive deductions, they just disappear. which is one of the things about all of this about limiting these deductions which is kind of silly because the amt does it in the aggregate. and of course the amt is grabbing more and more people and it's one of the things they want to reform, but if they reform it, they have to raise taxes someplace else. so it's confusing. >> but that's the worst part of it, a simpler tax code that someone could actually understand and now ho
it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest...
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could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth quarter because of these job cuts even though it expects them to generate $900 million in cost savings next year. interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts
could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth...
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can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle class for the rates they are, the best down payment. that's the best easy first step and i hope congress will realize take a step and take it now and give the president something he can sign. >> that has to be the last word. thanks, guys. >>> from the downward slope of the cliff to the upward climb on jobs, a big surprise in the november jobs numbers. it's a step in the right direction, but ali velshi will join me with a look at why we need to do much more. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their cl
can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle...
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the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically week and counting before you think the equity market really drops significantly? >> if we do get a deal done do, we just maintain the 2% that we're stuck in with the high unemployment and not go down? or does it actually allow us to start growing again? is anybody talking growth? >> we're talking growth. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you
the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically...
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the fiscal cliff, a combination of tax increases and spending cuts. right now there is a political standoff, which the head of the imf, christine largarde, has a duty to stop. >> the fiscal cliff -- when you talk to people around the world, how concerned are they about the ramifications of americans going over this cliff? >> people around the world are concerned about it. it used to be the case that they were more concerned about the eurozone than the fiscal cliff. now things have changed. they often ask about it and its resolution. >> what do you think the impact could be globally? we're looking at a time when the global recovery is fragile at best. >> the u.s. is about 20% of the global economy. if the u.s. suffers as a result of the fiscal cliff, a complete wiping out of its growth, it is going to have repercussions around the world. if the u.s. economy has two% less growth, it will probably be a 1% less growth in mexico, canada, in europe, and japan. there will be ripple effects. >> are you worried about this? >> yes. of course i worry about it. t
the fiscal cliff, a combination of tax increases and spending cuts. right now there is a political standoff, which the head of the imf, christine largarde, has a duty to stop. >> the fiscal cliff -- when you talk to people around the world, how concerned are they about the ramifications of americans going over this cliff? >> people around the world are concerned about it. it used to be the case that they were more concerned about the eurozone than the fiscal cliff. now things have...
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i have been warning you about this fiscal cliff for months now. i call it the economic storm of our own making, but some of you think all the talk is overblown. will a failure by washington really mean catastrophe for the economy? i'm going to debate with richard quest, next. [ roasting firewood ] ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. >>> time now for q and a. three weeks left to do a deal and yet, lawmakers in washington -- promising to cut trillions, but republicans insist it could be done without raising taxes on the rich. president obama insists at a nonstarter. what happens if there's no deal? are we as some argue, maybing too much of the fiscal cliff deadline? would it really be a catastrophe to hit it, go over it, maybe for a little while. joining me now from london, richard quest, the host of quest means business on cnn international. i got 60 seconds. i'll go first. could be catastrophic if congress doesn't get a de
i have been warning you about this fiscal cliff for months now. i call it the economic storm of our own making, but some of you think all the talk is overblown. will a failure by washington really mean catastrophe for the economy? i'm going to debate with richard quest, next. [ roasting firewood ] ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. >>> time now for q and a....
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now fiscal cliffs and payroll, fiscal cliff has a lot to do with this. the american payroll association this is the trade group for all of the small business who's are doing payrolls, you know, paying you. they say the fiscal cliff really isn't january 1st. their fiscal cliff is december 14th. that's the time they need to have the software changed to make sure the tax changes go into the paycheck. >> that's not going to happen by the 14th. >> it's not going to happen about it 14th. that's why small businesses are concerned. let me tell you what they say. a delay in legislation beyond december 14th doesn't give all businesses enough time to update their payroll systems for early january paychecks. and they go on. it's even worse. the two worst case scenarios according to the payroll folks, congress comes to an agreement after january 1 and applies new rules retro actively. the software can't handle it, or last minute agreement keeps rates as they are for a few months. this would even confuse the payroll software programs because some only calculate a year
now fiscal cliffs and payroll, fiscal cliff has a lot to do with this. the american payroll association this is the trade group for all of the small business who's are doing payrolls, you know, paying you. they say the fiscal cliff really isn't january 1st. their fiscal cliff is december 14th. that's the time they need to have the software changed to make sure the tax changes go into the paycheck. >> that's not going to happen by the 14th. >> it's not going to happen about it 14th....
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fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a deal to stop the more than half a billion dollars in spending cuts and tax increases from going into effect my next guest says the fiscal cliff is simply y2k fair all over again which amounted to nothing as i recall i agree we're not going to go over the cliff will hug him you know new year's eve he will be out of the work. so basically lots of speculation and very little substance but i can't say i'm not surprised particular day when i look at the recent rhetoric from this do nothing congress take us for example armed services committee just describe the looming defense cuts as quote an unaccep
fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a...
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i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock rallied, took a little bit off, and i still believe on a tact tactical basis that's the right move, at least for me. longer-term time frame it is generational. it looks most like a bond. it's a bond-friendly type of asset. that's why i want to own it. now, john and pete are talking about what potentially could turn it. you have to look forward into the earnings season and understand the potential for the number of iphones to be sold to hit 50 million. now, the reason that it was down 9 of 11 weeks, why did that begin? it began on the conversation of iphone five constraints. you wanted to order an
i think this is all fiscal cliff and tax related selling here. i don't think it's core, that rumor that because they moved up margins -- >> what do you do? your brother says stay away. >> i think he's right. you don't add to it until the final weeks of december. >> he didn't say stay away. >> did he say buy it? >> he said own it. >> if he thinks it's going up. >> if he loves it so much, why don't you buy more here? absolutely. on november 16th the stock...
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cliff, but also help us avert the yawning fiscal of this ivory for me -- it this goal -- fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the wall street journal," the president is boxing in the republicans. he is offering them a deal they cannot accept. first, the president has repeatedly called for a balanced solution involving both revenue and less spending. what is obvious to the most casual observer is that this plan is not a balanced. the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. lackshe president's plan is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even i
cliff, but also help us avert the yawning fiscal of this ivory for me -- it this goal -- fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the wall street journal," the president is boxing in the republicans. he is offering them a deal they cannot accept. first, the president has repeatedly called for a balanced solution involving both revenue and less spending. what is obvious...
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the fiscal cliff isn't catastrophic. congress's inability to ever foresee dangers and avoid them is. [ buzzer ] richard, you seem be bored by my answer. >> all right. so you want to play hardball. [ bell ringing ] you want to play hardball with international economics and see just what might happen. of course nothing will happen on january 1, the moment the fiscal cliff arrives. it's going to be a slow drip, drip, drip effect as people realize a slowing in spending, the taxes go up, consumers are worried. it won't happen overnight. there's going to be no dramatic over the cliff we go. instead, you will see an evaporation of confidence. you will see an evaporation of business decision-making. that is where the tumor and the cancer will begin. in the united kingdom we have just had higher borrowing numbers and lower growth forecasts. just last week the ecb came out with dreadful, dreadful numbers on how the euro zone is performing. recession this year and possibly next. and you want to play games with something as importan
the fiscal cliff isn't catastrophic. congress's inability to ever foresee dangers and avoid them is. [ buzzer ] richard, you seem be bored by my answer. >> all right. so you want to play hardball. [ bell ringing ] you want to play hardball with international economics and see just what might happen. of course nothing will happen on january 1, the moment the fiscal cliff arrives. it's going to be a slow drip, drip, drip effect as people realize a slowing in spending, the taxes go up,...
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>> the fiscal cliff. first of all i think there are issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that we have at the moment is really here with us and that can be addressed. >> but when you look at, i mean i understood that the european banks had sort of downsized or downgraded what they thought would be growth. you've got more than 11% unemployment in the euro zone, which is a good deal higher than here. >> yeah yeah. >> are those things threats to the u.s. economy or do you think the u.s. economy now is destabilizing or has the potential to destabilize the world economy? >> i think the u.s. economy, because it's a relat
>> the fiscal cliff. first of all i think there are issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that...
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that all depends on america playing it's cards right and for that we need a deal on the fiscal cliff. thank you for joining us on the conversation on "your money." have a great weekend. >>> hello, thank you for joining us. i'm allison cossack, fredericka whitfield is off. president and house speaker john boehner met today at the white house. we're not getting details yet as to how those negotiations went, except to stay that the lines of communications remained open. both sides of the fiscal cliff negotiations are much closer than you may think despite what law makes say publicly. jackie calms of the "new york times" picked up on something that lawmaker tim cole said recently. >> the republicans should just declare victory and taking the 98% of the tax cuts that they agree on and work next year on tax reform and see if they can't get the top rate back down again. it's hard to think that that's not where they're going to end up so why not make it clean instead of ugly. >> i think it's true that many people are saying privatery what tom cole said publicly on the show. but they believe t
that all depends on america playing it's cards right and for that we need a deal on the fiscal cliff. thank you for joining us on the conversation on "your money." have a great weekend. >>> hello, thank you for joining us. i'm allison cossack, fredericka whitfield is off. president and house speaker john boehner met today at the white house. we're not getting details yet as to how those negotiations went, except to stay that the lines of communications remained open. both...
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fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end of the year, but we still then have the whole debt ceiling fight that would transpire shortly into the new year. the issue isn't simply the negative result of going over the cliff, but it's also that business, consumers, everybody continues to hold back on the uncertainty. and we believe the economy is pretty well positioned potentially in 2013 if we can put this behind us. so i think a lot of what's going on is what you would expect to see in this negotiation, very public negotiation, which is not the best way to do it. i think at
fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end...
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the reason, well, the fiscal cliff. the current rate is 35%. only those estates worth 5 million or more have to file. if we go off the cliff the rate shoots up to 55%. anyone worth an estate worth $1 million or more has it file. that will catch tens of thousands of tax payers in the net of the estate tax. republicans want it abolished or current rates to be made permanent. obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even some democrats are siding with republicans saying they want it keep current rates. all the sides here tyler remain very far apart. wealthy families need 20 rewrite their wills and charity plans. for the country, there are hundreds of billions of dollars at stake. under old rates, they raise $532 billion by 2021. obama plan raised around $270 billion, about half. gop raises about $161 billion. the fight over taxing the rich, especially in the estate tax, is far from over. back to you, tyler. >> not the first time the estate tax has come up in these kinds of n
the reason, well, the fiscal cliff. the current rate is 35%. only those estates worth 5 million or more have to file. if we go off the cliff the rate shoots up to 55%. anyone worth an estate worth $1 million or more has it file. that will catch tens of thousands of tax payers in the net of the estate tax. republicans want it abolished or current rates to be made permanent. obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even...
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fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest said, wholesale inventory number. you have to watch that, if you start to see a long-term trend where the companies are building inventories, that's something more ominous to the economy. the small business index coming out tomorrow. that, of course, should show a gradual increase in its pace. and the federal reserve is starting their meetings tomorrow, so, for wednesday, we're expecting an additional $40 billion every month of additional treasury purchases to take place on the operation twist. >> jennifer, 30 seconds. what do you see tomorrow? >> yeah, we
fiscal cliff, obviously dominant on the scene. no major events, as i see them scheduled those there will be some of the joint committee in congress on thursday, talks about some of the outcomes, should we go over fiscal cliff. and then looking beyond that, really, it's really about the euro zone and keep an eye out. we have meetings going on wednesday, thursday, friday. >> got it. chad, what about you? >> bill and mandy, three things to watch for tomorrow. as your previous guest...
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get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create jobs which nancy pelosi is looking for are looking for political will out of washington. they are looking for certainty on the fiscal cliff. certainty that debt reduction, there will be debt reduction, that entitlements will be brought under control. looking for certainty on taxe taxes. until this happens, there isn't going to be that certainly. i have to say that the republicans showed the political will. they stood up, to the conservative base. they put the re-knews on the table. what troubles me -- now that the ball is in the white hou
get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create...
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i think we're getting somewhere with this fiscal cliff problem. number one, smart conservatives now say the republicans would face hell if they let this country go over the fiscal cliff. just to protect the top 2%. better to take the hit now, they argued, than in january with the world economy in turmoil and second recession coming. number two, john boehner, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more. number three, there's talk for the republican leaders that they could vote to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but
i think we're getting somewhere with this fiscal cliff problem. number one, smart conservatives now say the republicans would face hell if they let this country go over the fiscal cliff. just to protect the top 2%. better to take the hit now, they argued, than in january with the world economy in turmoil and second recession coming. number two, john boehner, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more....
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this is all about the fiscal cliff. we keep saying over and over it is boring but these guys have to get some resolution. tracy: what is the consensus of people you are speaking to on the telephone on wall street? did in come to some bipartisan agreement? >> no they don't and they're getting angry. [talking over each other] tracy: the rates go up essentially? nicole: special dividends tell you companies and a lot of them have been down in washington recently thinking this is not going to happen. they are declaring dividends ahead of a little bit. the general consensus, market's going to stay where it they are, this is a headline driven market. the flavor of the day is going to be where we are and that is why you will not see reinvestment. this is a trader's market. nicole: a lot of stories stocks will looking at with earnings and such but the big picture -- >> you can still make monee somewhere. nicole: if you pick the stocks. [talking over each other] tracy: see you in 15 minutes. ashley: crude oil futures at $88.50 a
this is all about the fiscal cliff. we keep saying over and over it is boring but these guys have to get some resolution. tracy: what is the consensus of people you are speaking to on the telephone on wall street? did in come to some bipartisan agreement? >> no they don't and they're getting angry. [talking over each other] tracy: the rates go up essentially? nicole: special dividends tell you companies and a lot of them have been down in washington recently thinking this is not going to...
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the fiscal cliff dominated the sunday talk shows. senator dick durbin on "meet the press" yesterday saying no deal on the debt without a tax hike on the wealthy. >> i can tell you i don't want to do it, the president doesn't want to do it but we need to solve the problem. we cannot allow their reckless position to drive this economy into another recession. >> and senator bob corker argues it might be better to agree with what the president wants to do now on taxes, and then fight later on spending. >> if we were to pass, for instance, raising the top two rates and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> joining us now house majority whip kevin mccarthy. not everybody, i don't know, depends on where you're sitting i guess, congressman, "the wall street journal" says republicans shouldn't be negotiating with themselves. they ought to be talking to spoorker boehner. is it helpful? >> is it helpful what the others are saying? look, is raising the rates going to solve the pro
the fiscal cliff dominated the sunday talk shows. senator dick durbin on "meet the press" yesterday saying no deal on the debt without a tax hike on the wealthy. >> i can tell you i don't want to do it, the president doesn't want to do it but we need to solve the problem. we cannot allow their reckless position to drive this economy into another recession. >> and senator bob corker argues it might be better to agree with what the president wants to do now on taxes, and...
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Dec 8, 2012
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now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico, canada, probably less so in europe and japan. but there will be a ripple effects. >> are you worried about it? >> yes. of course i worry about it. the u.s. is a big chunk of the global economy. it has often been a driver of growth. and to have that player virtually flat, if not in recession, would be bad news for the rest of the world. we do not need that because recovery is fragile. we do not want to have this knock on affect on the fragile recovery. >> what would your message be to members of both parties on capitol hill as their negotiating? >> i would say focus on the real issue.
now things have changed and there is more concerned about the fiscal cliff. they asked about a resolution. >> what could the impact speed? we are looking at a time when the global recovery is fragile at best. >> of u.s. is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico,...
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on the brink of the fiscal cliff. when lot of the operations for social security are located in baltimore. she is out protesting. there was a big protests by workers at social security about some of the fiscal cliff discussions yesterday. roma in fairfield, california, line for independents. caller: i wanted to piggyback a little bit of what the others have said before me. i am an immigrant. akin to this country when i was very young. i'm very grateful for this country. i have lived in other countries, and this is the best country to be. having said that, when i came here it was required that i spoke english. when i go to businesses and schools and just about town all day in my regular day-to-day activities of daily living, a run into this barrier of language. in the school system, when you they say youceaddress it, just look away. it has gotten too politically incorrect. it is very hard to educate a glitch comprehending people if you have a heavy accent -- english-comprehending people if you have a heavy accent. i wo
on the brink of the fiscal cliff. when lot of the operations for social security are located in baltimore. she is out protesting. there was a big protests by workers at social security about some of the fiscal cliff discussions yesterday. roma in fairfield, california, line for independents. caller: i wanted to piggyback a little bit of what the others have said before me. i am an immigrant. akin to this country when i was very young. i'm very grateful for this country. i have lived in other...
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first one is the fiscal cliff. you're one of the keener economic minds in great britain. what do you make of what's happening in america? the old expression if america sneezes, we all catch a cold back in europe, as true as ever. what do you think should be happening here to try and get a deal to avoid the fiscal cliff happening? >> i have no doubt people are working very hard to get a deal. i wish their discussions -- well, now we have the president re-elected and we have a new congress. i think it's right they get them to the business of sorting this out. i think america's got to think that what it needs to do is get growth in its economy as well. and it needs to get growth by trade and exporting. i think what we're missing at the moment is a global agreement whereby big powers try to rebuild confidence in the world. yes, have you to sort out the fiscal problems. yes, you also have to have growth because that's the key to employment and to prosperity to the future. there's a global deal waiting to be done with china, europe, india also involved in this and, of course, a
first one is the fiscal cliff. you're one of the keener economic minds in great britain. what do you make of what's happening in america? the old expression if america sneezes, we all catch a cold back in europe, as true as ever. what do you think should be happening here to try and get a deal to avoid the fiscal cliff happening? >> i have no doubt people are working very hard to get a deal. i wish their discussions -- well, now we have the president re-elected and we have a new congress....
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no one fell off stage or fiscal no one fell off stage or fiscal cliff. ♪ the weather outside is frightful ♪ ♪ but the fire is so delightful ♪ nothing melts away the cold like a hot, delicious bowl of chicken noodle soup from campbell's. ♪ let it snow, let it snow >>> a twilight wedding, watch out for flying bears and the pope goes hi-tech. who knew it was even available? a university of las vegas grad student said she is going marry twilight's edward cohen. actually it's a cardboard cut out of actor robert posing as the vampire. she's doing it as a thesis project and has a commentary on the two sides of las vegas, the real and the fantasy. >>> it was raining bears in hershey, pennsylvania, literally. almost 13,000 of them. an annual fundraiser for are the children's miracle network. fans were encourage tlod the stuffed anim bears on the rink. >>> amazing show of support for a massachusetts woman fighting cancer. a flash mob was organized outside of her hospital room in boston. more than 200 friends and co-workers gathered into the shape of a heart so she could see it from her wind
no one fell off stage or fiscal no one fell off stage or fiscal cliff. ♪ the weather outside is frightful ♪ ♪ but the fire is so delightful ♪ nothing melts away the cold like a hot, delicious bowl of chicken noodle soup from campbell's. ♪ let it snow, let it snow >>> a twilight wedding, watch out for flying bears and the pope goes hi-tech. who knew it was even available? a university of las vegas grad student said she is going marry twilight's edward cohen. actually it's a...
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setting up the fiscal cliff, a man-made challenge, what do they think of us? >> actually, they look at us and think we're going to work it out. >> to put it differently, they can't believe we will screw up. >> they're kind of thinking about the debt ceiling debate. they're not following this like we are. and they remember the last time we were in a situation. >> last time we got downgraded. >> it didn't seem to have much economic impact. people are just looking at us figure, oh, you know those crazy americans, they'll work it out at the last minute. >> what will they say if they get up january 2nd or 3rd after the new year and see we didn't work it out. >> it's my hope, towards later december, we'll actually have -- i want to convince people on the right, i think it's the president's job to convince the slower learners on the republican side that this is serious business. and we have a deal now, as if you know what's going to happen in january. there's going to be a january. we know that. there's a december, there will be a january. do you want to be in januar
setting up the fiscal cliff, a man-made challenge, what do they think of us? >> actually, they look at us and think we're going to work it out. >> to put it differently, they can't believe we will screw up. >> they're kind of thinking about the debt ceiling debate. they're not following this like we are. and they remember the last time we were in a situation. >> last time we got downgraded. >> it didn't seem to have much economic impact. people are just looking at...
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this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great wi
this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and...
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on the fiscal cliff fight. that and more on the sunday afternoon straight ahead. >>> lauren chun wanted to introduce kim chee to mainstream america. she's using nonethnic packaging to appeal to a mass market and the product is now carried in whole foods and fresh markets. and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. yofor giving the perfect gift?le just have a knack [ male announcer ] break from the holiday stress. they put real thought into it. and find just... the right...thing. how do they do that? more saving. more doing. that's the power of the home depot. pick up a ridgid jobmax multi-tool starter kit and get a free head attachment. pretty sweet, huh? cute. but don't you have any apps on your phone that can make your li
on the fiscal cliff fight. that and more on the sunday afternoon straight ahead. >>> lauren chun wanted to introduce kim chee to mainstream america. she's using nonethnic packaging to appeal to a mass market and the product is now carried in whole foods and fresh markets. and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho!...
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Dec 9, 2012
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how could this power player conversation impact fiscal cliff negotiations? >> temperatures on the chilly cited above their warming up tomorrow. the insta-weather + forecast just ahead. >> were watching wbal- tv 11. live, local, late breaking. this is 11 news at 6:00. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- >> the big story tonight, a crush in defeat at the hand of the washington redskins. adding insult to injury, a spot in the playoffs was available for the taking. >> a season that seemed so charmed a few weeks ago. now what feels cursed for ravens fans. injuries mounting and adding to the pain. it looking good in the fourth quarter. ravens trying to deal with robert griffin iii. hey, diddle diddle. ray rice up the middle. ravens up by eight. the redskins proved to be more resilience. look at kurt cousins in for injured rg3. he finds pierre garcon. tied at 28. a big punt returns setting up. that's it. there you go. from 34 yards, the rookie has never missed a kick in the nfl.
how could this power player conversation impact fiscal cliff negotiations? >> temperatures on the chilly cited above their warming up tomorrow. the insta-weather + forecast just ahead. >> were watching wbal- tv 11. live, local, late breaking. this is 11 news at 6:00. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- >> the big story tonight, a crush in defeat at the hand of the washington redskins. adding...
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Dec 6, 2012
12/12
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worries about the fiscal cliff, is going to drive u.s. dollar higher. i think the ecb trichet is worrisome. of course you have to pair it against another currency, the australian dollar. the rba is cut about 175 basis points over the last year so australia is really kind of begging to be sold. technically speaking it's in this long-term consolidation i'm sure dennis is watching, fx traders like me are dying to sell this long-term consolidation up around the 1.05 level. i'd love to get short aussie in nfp. >> give me your level and we'll debt dennis' reaction. >> short at 1.0525 and put a stop off on 1.0625 and about 1.03 we can ring the register. >> denis? >> i've got the other side of trade, i'm long of the dollar against the japanese yen, it's been working and i'll continue to do it. if it takes out 1.0525. >> you must be bullish on stocks. >> i'm very bullish on the stock market absolutely. >> todd good to see you. for more trades watch "money in motion" tomorrow 5:30 p.m. eastern time. next up on "halftime" sell the winners and buy the losers, "hold
worries about the fiscal cliff, is going to drive u.s. dollar higher. i think the ecb trichet is worrisome. of course you have to pair it against another currency, the australian dollar. the rba is cut about 175 basis points over the last year so australia is really kind of begging to be sold. technically speaking it's in this long-term consolidation i'm sure dennis is watching, fx traders like me are dying to sell this long-term consolidation up around the 1.05 level. i'd love to get short...
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Dec 5, 2012
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let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal...
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Dec 7, 2012
12/12
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and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything done. >> reporter: potential effects of the fiscal cliff in rock island, illinois aren't necessarily any better or worse than in other cities around the country. the bottom line is if congress fails to act, repercussions will be felt across the country. wolf? >> ted rowlands in rock island, illinois. >>> imagine being able to use your ipad, cell phone in the air whenever you want. up next, we have details on a new government effort under way now to keep you plugged in all the time, including on takeoff and landing, while flying. stand by. ♪
and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything...
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every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he
every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september...
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does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
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Dec 8, 2012
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. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan and didn't pay for it, i didn't hear from any people in the media complaining about that. what it tells me is that behind the corporate drive for deficit reduction is a significant effort to try to cut social security, medicare, and medicaid and other programs that working families need, not so much because of deficit reduction, because this has been the agenda of republicans and right wingers for a very long time. >> so how do you see this fiscal debate playing out in the next couple of weeks? >> we have, those of us who say that deficit reduction is a serious issue, i believe it is. but believe very strongly that at a time when we have the
. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan...
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no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we turn to fox news chief white house correspondent ed henry for the report. >> trying to lay blame for stalled budget talks on republicans, president obama today wratcheted up pressure on boehner. >> nobody wants this done more than me. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicar
no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we...